Gross Output by Industry: Government (Chain-Type Price Index)
GOPIG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
129.13
Year-over-Year Change
9.39%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Output by Industry: Government (Chain-Type Price Index) measures the price changes of government output. It is a key indicator for economists and policymakers to assess the cost of government services.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the price changes of goods and services produced by the government sector. It is used to adjust nominal government spending for inflation, providing insights into the real value of government output over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type price index methodology.
Historical Context
This trend is widely used by economists, policymakers, and analysts to evaluate the real purchasing power of government expenditures.
Key Facts
- The base year for the index is 2012=100.
- The index tracks price changes for all government output, including federal, state, and local levels.
- Quarterly data is available from 1947 to the present.
FAQs
Q: What does this economic trend measure?
A: The Gross Output by Industry: Government (Chain-Type Price Index) measures the price changes of goods and services produced by the government sector.
Q: Why is this trend relevant for users or analysts?
A: This index is important for evaluating the real purchasing power of government expenditures over time, as it adjusts nominal government spending for inflation.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type price index methodology.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and analysts to assess the cost of government services and the real value of government output.
Q: Are there update delays or limitations?
A: Quarterly data is available from 1947 to the present, with no known update delays or limitations.
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Citation
U.S. Federal Reserve, Gross Output by Industry: Government (Chain-Type Price Index) (GOPIG), retrieved from FRED.